Oil & Gas
The global petrochemicals market is poised to grow from $365. 01 billion in 2020 to $429.11 billion in 2021 and to reach $477.85 billion in 2025. A major goal in the petrochemical industry is to run industrial processes at the highest economic performance throughout the life of the hardware. AI can help improve process efficiencies and minimize downtime by means of predictive maintenance. It is estimated that AI can save up to 30-40% in operational costs in the petrochemical industry.
Many prominent players in the petrochemical industry are already utilizing AI in their solutions. For example, Shell uses AI solutions to predict downstream demand, to optimize supply chain and to recommend correct mix of oil for refineries. Many other companies are also using AI for the above mentioned and many other use cases. A major use case of AI for the petrochemical industry lies in modern machine learning methods to reduce emissions and to optimize their pipelines so as to cause minimal environmental damage. AI based methods, due to the fact they can ingest large amounts of data and discover micro patterns, are well poised to tackle such problems which have traditionally been considered quite unsolvable. Up till now, emissions and hazards have been considered a part of conducting business, but AI is well poised to change this trend and advance the petrochemical industry to new levels of efficiency and smartness.
Our AI models will prioritize pigging operations with an early warning system to only to shut down small parts of pipelines.
We built an AI model that predicts ahead of time the amount of liquid loading in the gas well and its impact on the gas flow.